India’s economic growth slipped to hit an over six-year low of 4.5 per cent in the July-September period of this fiscal.

According to official data released today, during the six-month period of April to September 2019, the Indian economy grew 4.8 per cent as against 7.5 per cent in the same period a year ago.

The previous low was recorded at 4.3 per cent in the January to March period of 2012-13.

The Gross Domestic Product (GDP) growth was registered at 7 per cent in the second quarter of 2018-19.

The Reserve Bank had lowered the GDP growth projection for 2019-20 to 6.1 per cent from an earlier forecast of 6.9 per cent.

Chief Economic Adviser K Subramanian today said, the fundamentals of Indian Economy is strong and GDP growth is expected to pick up from third quarter of Financial Year 2019-20.

While interacting with media in New Delhi on GDP numbers released today, he said that IMF has projected India’s GDP growth at 6.1 per cent in 2019-20 and 7 per cent in Financial Year 2020-21 in it’s recently released report on World Economic Outlook.

Economic Affairs Secretary Atanu Chakraborty said, mega steps of reducing government stake in PSUs below 51 per cent has not happened anywhere. He further said, Globally India is the fastest growing economy and expects an increase in investment, consumption and sentiment.